Sitting on the eastern shore of Moreton Bay, Victoria Point is one of the Redlands Coast's most sought-after suburbs — a relaxed bayside community that blends family-friendly living with stunning waterfront scenery. If you own a free standing home here, you'll know that protecting it with the right insurance is just as important as finding the right property in the first place. This article breaks down a real home and contents insurance quote for a four-bedroom brick veneer home in Victoria Point (postcode 4165), and puts the numbers into context so you can judge whether you're getting a fair deal.
---
Is This Quote Fair?
The quote in question comes in at $1,727 per year (or $173/month) for combined home and contents cover, with a building sum insured of $682,000 and contents valued at $210,000. The building excess is set at $4,000, while the contents excess sits at $1,000.
Our pricing engine has rated this quote as FAIR — Around Average.
What does that actually mean in practice? At $1,727/yr, this premium lands just above the suburb's 25th percentile of $1,659/yr, meaning roughly three-quarters of comparable quotes in Victoria Point are more expensive. That's a reasonably competitive position — not the cheapest on the market, but well below what many local homeowners are paying.
It's worth noting that the building excess of $4,000 is on the higher side. Insurers often offer lower premiums in exchange for a higher excess, so part of the reason this quote looks attractive on price is that the policyholder has accepted more out-of-pocket risk in the event of a claim. Whether that trade-off suits your financial situation is a personal decision, but it's an important factor to weigh up.
---
How Victoria Point Compares
To put this quote in proper perspective, here's how Victoria Point stacks up against broader benchmarks:
| Benchmark | Premium |
|---|---|
| This Quote | $1,727/yr |
| Victoria Point suburb average | $3,494/yr |
| Victoria Point suburb median | $3,043/yr |
| Victoria Point 25th percentile | $1,659/yr |
| Victoria Point 75th percentile | $5,860/yr |
| Redland LGA average | $3,312/yr |
| Queensland state average | $4,547/yr |
| Queensland state median | $3,931/yr |
| National average | $2,965/yr |
| National median | $2,716/yr |
The spread of premiums across Victoria Point is striking — from under $1,659 at the lower end to over $5,860 at the upper end. That's a difference of more than $4,200 per year for homes in the same suburb, which underscores just how much individual property characteristics, insurer pricing models, and cover levels can vary.
Compared to the Queensland state average of $4,547/yr, this quote is 47% cheaper — a significant saving. Queensland consistently ranks as one of the most expensive states for home insurance in Australia, largely due to elevated weather risks including storms, flooding, and hail. Even against the national average of $2,965/yr, this quote comes in well below par.
You can explore the full breakdown of premiums for Victoria Point and postcode 4165 on the CoverClub Victoria Point stats page.
---
Property Features That Affect Your Premium
Every home is different, and insurers price policies based on a combination of location risk and physical property characteristics. Here's how the key features of this particular home are likely influencing the premium:
Brick Veneer Walls Brick veneer is one of the most common external wall materials in Queensland and is generally viewed favourably by insurers. It offers solid fire resistance and reasonable structural durability, which can contribute to more competitive premiums compared to timber-framed or weatherboard homes.
Steel / Colorbond Roof A Colorbond steel roof is a strong asset from an insurance perspective. It's highly resistant to ember attack, performs well in high winds, and requires minimal maintenance. Insurers typically regard it as a lower-risk roofing material compared to older tile or fibrous cement options.
Slab Foundation Concrete slab foundations are standard in Queensland and generally considered low-risk by underwriters. They're less susceptible to subsidence and pest damage than raised timber stumped foundations.
Solar Panels This property has solar panels installed. While solar adds value to a home, it's important to ensure your sum insured accounts for the replacement cost of the system. Most standard home insurance policies cover rooftop solar panels as part of the building, but it's worth confirming this with your insurer.
Built in 1995 A home built in 1995 is relatively modern by Australian standards and would have been constructed under building codes that incorporated improved cyclone and storm-resistance standards compared to older homes. This can be a positive factor in risk assessment.
214 sqm Building Size At 214 square metres, this is a comfortably sized family home. The building sum insured of $682,000 translates to approximately $3,187 per square metre — broadly in line with current rebuild cost estimates for brick veneer construction in South East Queensland, though it's always worth having this figure reviewed periodically.
No Pool, No Ducted Climate Control The absence of a pool removes a common liability and maintenance risk factor. No ducted climate control also means fewer mechanical systems that could contribute to water or electrical damage claims.
---
Tips for Homeowners in Victoria Point
1. Review your sum insured regularly Construction costs have risen sharply in recent years. If your building sum insured hasn't been updated since you first took out the policy, there's a real risk of being underinsured. Use a quantity surveyor or your insurer's rebuild calculator to check your coverage is still adequate.
2. Understand your excess before a claim The $4,000 building excess on this policy is higher than average. Make sure you have that amount readily accessible — it's the portion you'll need to cover before your insurer pays out on a building claim. If cash flow is a concern, it may be worth comparing quotes with a lower excess, even if the annual premium is slightly higher.
3. Check your solar panels are covered With solar panels installed, confirm in writing with your insurer that the system is included under your building cover and what the replacement value is. Some policies have sublimits or exclusions for solar equipment.
4. Compare quotes at renewal time Victoria Point has a wide premium range — over $4,200 between the 25th and 75th percentiles. That means shopping around at renewal can make a meaningful difference. Don't let your policy auto-renew without checking whether a better deal is available elsewhere.
---
Ready to Compare Home Insurance Quotes?
Whether you're reviewing an existing policy or shopping for cover for the first time, comparing multiple quotes is the single most effective way to ensure you're not overpaying. CoverClub makes it easy to see how your premium stacks up against real data from your suburb and state.
Get a home insurance quote today at CoverClub and find out if you could be paying less for the same level of protection.